Tower Research Capital LLC TRC Lowers Holdings in Lyft, Inc. (NASDAQ:LYFT)

Tower Research Capital LLC TRC trimmed its stake in Lyft, Inc. (NASDAQ:LYFT) by 72.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,898 shares of the ride-sharing company’s stock after selling 5,101 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Lyft were worth $28,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Lyft by 3.7% during the 3rd quarter. Vanguard Group Inc. now owns 31,457,522 shares of the ride-sharing company’s stock valued at $331,562,000 after purchasing an additional 1,135,036 shares during the last quarter. Norges Bank bought a new stake in shares of Lyft during the fourth quarter valued at approximately $94,687,000. Jacobs Levy Equity Management Inc. raised its holdings in Lyft by 5.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 5,619,470 shares of the ride-sharing company’s stock worth $59,229,000 after acquiring an additional 300,982 shares during the last quarter. Invesco Ltd. lifted its position in Lyft by 21.3% in the 3rd quarter. Invesco Ltd. now owns 4,425,740 shares of the ride-sharing company’s stock valued at $46,647,000 after acquiring an additional 778,563 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Lyft by 4.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,630,432 shares of the ride-sharing company’s stock valued at $54,420,000 after purchasing an additional 141,823 shares during the last quarter. 83.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on LYFT shares. Citigroup boosted their price target on Lyft from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. UBS Group raised their price target on shares of Lyft from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. BMO Capital Markets initiated coverage on shares of Lyft in a research report on Tuesday, January 9th. They set a “market perform” rating and a $15.00 price objective on the stock. TD Cowen lifted their target price on shares of Lyft from $10.00 to $12.00 and gave the stock a “market perform” rating in a research report on Monday, January 22nd. Finally, Tigress Financial increased their price target on Lyft from $22.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Lyft presently has an average rating of “Hold” and an average target price of $14.60.

Lyft Price Performance

Shares of NASDAQ:LYFT traded up $0.36 during midday trading on Friday, reaching $17.20. 16,009,658 shares of the company were exchanged, compared to its average volume of 11,513,318. The stock has a market cap of $6.88 billion, a PE ratio of -19.33 and a beta of 2.05. The business’s fifty day moving average is $17.72 and its two-hundred day moving average is $14.43. Lyft, Inc. has a one year low of $7.85 and a one year high of $20.82. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.55.

Lyft (NASDAQ:LYFT) last released its quarterly earnings data on Tuesday, February 13th. The ride-sharing company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.14. Lyft had a negative net margin of 7.73% and a negative return on equity of 54.80%. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. As a group, analysts predict that Lyft, Inc. will post -0.35 earnings per share for the current year.

Insider Activity at Lyft

In other Lyft news, President Kristin Sverchek sold 5,670 shares of Lyft stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $15.02, for a total value of $85,163.40. Following the sale, the president now owns 633,950 shares of the company’s stock, valued at approximately $9,521,929. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director John Patrick Zimmer sold 193,200 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $20.04, for a total transaction of $3,871,728.00. Following the sale, the director now directly owns 932,544 shares in the company, valued at approximately $18,688,181.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Kristin Sverchek sold 5,670 shares of Lyft stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $15.02, for a total value of $85,163.40. Following the completion of the transaction, the president now owns 633,950 shares of the company’s stock, valued at approximately $9,521,929. The disclosure for this sale can be found here. Over the last three months, insiders sold 280,526 shares of company stock valued at $5,358,031. Insiders own 3.16% of the company’s stock.

About Lyft

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It operates multimodal transportation networks that offer access to various transportation options through the Lyft platform and mobile-based applications. The company's platform provides a ridesharing marketplace, which connects drivers with riders; Express Drive, a car rental program for drivers; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.